Confusion over Hargreaves Lansdown investment. Doesn't make sense...

Nine_Lives

...to me that is.

Brothers S&S ISA with HL. Currently sticking £50 pm away.

He has 2 funds with £100 invested in each after running it for 4 months. £50 goes in to one 1 month & then £50 into the other the following month, followed by £50 into the first fund in the 3rd month & alternating like that.

Looking into it today to check as the payment date is coming up & one fund (the Jupiter Merlin one) was listed as £100 due.

Try to change that down to £50 & it says £50 to be held on account pending investment.

This is no good as he can't afford (at the moment) to contribute £100 per month. It wont let him reduce the pending amount to £0 either.

Basically he just wants to put a further £50 in in May so the total (in the Jupiter Merlin in this case) would then be £150 (+/- any gains/losses) that he'd have put into that fund.

How do you do it?

Would be helpful if i attached the screenshot:

le_loup

I doubt that you can alternate the investment in the way your brother thinks he can. My understanding is minimum monthly is £50; minimum investment per fund is £50; select the fund to receive the £50.

Nine_Lives

I've a feeling you've misunderstood.

He knows this. He wanted to do the following:

Jan: £50 deposited Jupiter = £50 total for Jupiter
Feb: £50 deposited First State = £50 total for First State & £50 total for Jupiter
Mar: £50 deposited Jupiter = £100 total for Jupiter, £50 total for First State
Apr: £50 deposited First State = £100 total for Jupiter, £100 total for First State
May: £50 deposited Jupiter = £150 total for Jupiter, £100 total for First State.

This meets the £50 minimum per month.

There was a bit of a mishap early on as we were getting to grips with how HL worked (still not mastered it yet), which meant that February's £50 went to Jupiter, so in March, £100 went to First State to bring things up to where they should be.

As you can see, the entry for May has been dropped from £100 to £50 (today).

What's causing the confusion is the "cash to be held on account pending investment". It should read £0, but it wont allow it to be changed to £0. He doesn't want any money pending at all.

Lokolo

Then your brother made a mistake and has forgotten to take down the months investment back down to £50 (after upping it to £100 in a previous month).

You have until the 26th of the month to change the total amount invested and then until the 7th to change where the investments go (into Funds or Cash or mixture). Money is retrieved on the 7th.

The orders are then processed on 10th.

I cannot see your screenshot as its blocked at work but I imagine it looks something like this;

---

May
Fund A

---

£50
Cash

---

£50
Total

---

£100

Is this correct?

Nine_Lives

That is correct.

In that case, i think £100 will be taken on the 7th. £50 will be correctly invested & £50 will be held on the account. He'll then have to withdraw this £50 to his bank account.

Lokolo

Yep thats right.

What is in the second column? (I think it displays something like June and Onwards?)

Make sure this is no longer £100, make sure it's £50.